SOLUTION: You invest $2,000 in an account that is compounded continuously at an interest rate of 5%. You never withdraw money from the account. Which equation below gives the amount of money
Algebra.Com
Question 1068029: You invest $2,000 in an account that is compounded continuously at an interest rate of 5%. You never withdraw money from the account. Which equation below gives the amount of money you will have in the account after t years?
A.) A(t) = 2,000e^5t
B.) A(t) = 2,000e^0.05t
C.) A(t) = 2,000(1.5)^t
D.) A(t) = 2,000(1.05)^t
Answer by ikleyn(52777) (Show Source): You can put this solution on YOUR website!
.
Solved in
https://www.algebra.com/algebra/homework/Radicals/Radicals.faq.question.1068028.html
https://www.algebra.com/algebra/homework/Radicals/Radicals.faq.question.1068028.html
RELATED QUESTIONS
You invest $2,000 in an account that is compounded annually at an interest rate of 5%.... (answered by josgarithmetic)
You invest $2,000 in an account that is compounded annually at an interest rate of 5%.... (answered by josgarithmetic)
You invest $2,000 in an account that is compounded annually at an interest rate of 5%.... (answered by ikleyn)
You invest $4,400 in an account that pays an Interest rate of 6.5% compounded... (answered by ikleyn)
You invest money into an account where the interest is compounded continuously. If the... (answered by RAY100)
You invest $3,000 in an account with an interest rate of 5.5% compounded continuously.... (answered by Fombitz)
you invest $3,000 in an account with an interest rate of 5.5% compounded continuously.... (answered by rfer)
You invest $1,100 in an account that has an annual interest rate of 2.1%, compounded... (answered by checkley77)